Featured Photo: Supporting entrepreneurs in India
A woman named Manjula, who owns a small dressmaking business in Bangalore, sends fabric to her shop. Manjula is one of the many entrepreneurs and small businesses that OPIC has supported through financing to the Indian microfinance institution Ujjivan alongside fellow lender Citi.
Ujjivan offers a range of loans, from individual loans as small as $30, to group loans to support networks of self-employed women, and home loans up to $15,000 and the financing from OPIC and Citi has enabled it to expand its portfolio.
For Manjula, this financing has enabled her to not only support her family but also to create jobs in her community. Hers is one of thousands of small, grass roots businesses around the world that OPIC has supported by providing financing to various microfinance institutions.
As a small agency with a staff based almost exclusively in Washington, OPIC has limited means to connect directly with the remote individuals and communities that are often most in need of financial support. But by partnering with banks and microfinance institutions, it is able to reach this “last mile” of development.